Intel Corp. (INTC) has announced that CEO Pat Gelsinger will retire after over 40 years of service with the company, effective December 1, 2024, and will also resign from the board of directors.
In response, Intel has appointed David Zinsner and Michelle Johnston Holthaus as interim co-chief executive officers while the board of directors embarks on the search for a new CEO. Zinsner serves as the executive vice president and chief financial officer, whereas Holthaus has taken on the newly created role of CEO of Intel Products. This division includes the company's Client Computing Group (CCG), Data Center and AI Group (DCAI), and Network and Edge Group (NEX).
Frank Yeary, independent chair of Intel’s board, will assume the role of interim executive chair during this transition period. A search committee has been established to efficiently identify a permanent successor to Gelsinger.
Gelsinger began his journey with Intel in 1979, eventually becoming the company's first chief technology officer. Zinsner, on the other hand, brings over 25 years of experience in finance and operations within the semiconductor and technology sectors. He joined Intel in January 2022 from Micron Technology Inc., where he held the position of executive vice president and CFO. Holthaus brings nearly three decades of experience at Intel and was most recently the executive vice president and general manager of CCG before her current appointment. Her extensive leadership at Intel includes roles such as chief revenue officer and general manager of the Sales and Marketing Group, as well as leading global CCG sales.
